Protocol to Switch Realtors

[Rickie Mincy]

To give a little back story, I'm new to real estate and I'm starting off with SFH, low range. My bank referred me to my current realtor, not sure if that's a good or bad thing. He went through 1 showing with me, asked a couple questions about what I was looking for and stated he works with mostly investors. After that showing he pretty much went ghost and now has me working through his assistant for all showings and communication. This past weekend the assistant was out of town and I had interest in seeing a property, I reached out to the Realtor and he advised he didn't have any availability, as luck would have it, that house is now under contract. His assistant is not licensed and is only available to show on the weekends. I value ones time but I could be missing out on a great deal. Is this type of behavior normal and what is the proper protocol should I want to use different realtor?

[Tristam Griffith]

Good morning. Unless you have buyer agency agreement, you are under no obligation to continue working with that Realtor.

I would find a new Realtor. I don't work in Cincinnati, but could refer you to someone if needed. A good way to find an investor friendly Realtor is to ask other investors for a referral. 

Once you find a new Realtor, be honest about your communication and time preferences. I work with several low end investors. Here's the deal: 3% of a $30k deal isn't worth setting time aside for. My minimum commission is $1,500.00. So if the commission is 3% coming to $900, then tell them you are happy to make sure they always get a $1,500 minimum. They will realize you are serious and make time for you. I'm not being greedy, it's just a time thing. I'm VERY busy, and why would I want to sell $30k properties when I can use the same time to sell $400k properties. 

Please remember too, most agents only get 50% of each commission. That's the brokerage split. So a $900, or 3% commission on $30k only gets them $450.00. HER / COLDWELL Banker agents get 50% commissions, Keller Williams get 70% commissions, and Re/Max agents pay REALLY high fees monthly, but get 97% commission. So, Re/Max agents are highly motivated. They have to pay the Brokerage around $1,200 a month in office fees, thus there is no such thing as a "part time" Re/Max agent. It wouldn't be worth the fees. AKA-Serious buyers use Re/Max agents. I'm not knocking any of the other brands. I tell all new Realtor's to start with KW. They have tons of free classes. Then bump to Re/Max once they hit their CAP 2 years in a row. Anyway, I suggest using a RE/Max agent. They make the most money from your deals, thus will be more motivated to help you.

Once you find a new Realtor, ask your old Realtor to stop e-mailing you listings. Why? Because if they send you a listing in an e-mail and then find out later that you bought the property from a competing Realtor, they make come after you or the other Realtor for the commission because they are the "procuring cause" of the sale, and they might win. No one wants to deal with that! 

Also, unlicensed assistants are not allowed to show property in Ohio. It's against the law. If you report them to the Ohio Division of Real Estate they will be in trouble. 

I hope this helps you! Good luck :-)